Supplementary information package

Dundee Real Estate Investment Trust Supplementary information package As at March 31, 2014 www.dundeereit.com

Trust Data The REIT Dundee REIT is an unincorporated open ended real estate investment trust governed by the laws of Ontario. Dundee REIT is a mutual fund trust as defined in the Income Tax Act (Canada), but is not a mutual fund within the meaning of applicable Canadian securities legislation. We focus on owning, acquiring, leasing and managing well located, highquality central business district and suburban office properties. On March 31, 2014, our portfolio consisted of approximately 24.6 (1) million square feet of gross leasable area, located in major urban centres across Canada. Our portfolio is well diversified by geographic location and tenant mix. Dundee REIT was formed in connection with the reorganization of the business of Dundee Realty Corporation on June 30, 2003, pursuant to which substantially all of Dundee Realty s commercial real estate division, including senior management, and a joint interest in its property management business were transferred to us. Prior to completing the reorganization, Dundee Realty had established itself as one of Canada s largest real estate companies and had traded on the Toronto Stock Exchange for six years between July 1997 and June 2003. REIT Objectives Managing our business to provide growing cash flow and stable and sustainable returns through adapting our strategy and tactics to changes in the real estate industry and the economy; Building and maintaining a diversified, growth oriented portfolio of office properties in Canada, based on an established platform; Providing predictable and sustainable cash distributions to unitholders and prudently managing distributions over time; and Maintaining a REIT that satisfies the REIT exception under the SIFT legislation in order to provide certainty to unitholders with respect to taxation of distributions. Distributions Dundee REIT pays a monthly distribution to unitholders at a percentage of distributable income as the trustees, in their sole discretion, determine would be in the best interest of the Trust to distribute. The distribution is paid to unitholders of record at any month end on or about the fifteenth day of the following month. We also have a Distribution Reinvestment and Unit Purchase Plan ( DRIP ). For more information, please visit our web site. (1) Excluding assets held for sale and redevelopment properties

Capitalization (in thousands of dollars, as at March 31, 2014) Asset value of investment properties, including redevelopment properties and other assets held for sale: $ 7,319,002 Debt, including investment in joint ventures and debt related to assets held for sale: $ 3,649,505 Equity, including subsidiary $ 3,834,483 redeemable units: Rental Property Portfolio (excluding redevelopment properties and properties held for sale) As at March 31, 2014: 186 properties (218 buildings) 24,557,452 square feet Regional Asset Distribution (by square footage, as at March 31, 2014, excluding redevelopment properties and properties held for sale) Western Canada 21% Calgary Downtown 13% Calgary Suburban 3% Toronto Downtown 22% Toronto Suburban 17% Eastern Canada (1) 24% (1) Includes two properties located in the U.S. Occupancy Stabilized assets only Occupancy (including committed) was 94.2% as at March 31, 2014. This average excludes redevelopment properties and other properties held for sale. Core Rental Property Markets Toronto, Ontario Calgary, Alberta Edmonton, Alberta Montréal, Québec Kitchener Waterloo, Ontario Ottawa, Ontario Vancouver, British Columbia Regina, Saskatchewan Saskatoon, Saskatchewan Québec City, Québec Yellowknife, Northwest Territories Halifax, Nova Scotia Head Office Dundee Real Estate Investment Trust 30 Adelaide Street East, Suite 1600 Toronto, Ontario, Canada M5C 3H1 Telephone: (416) 365 3535 Fax: (416) 365 6565 Dundee Realty Management Corp. Regional & Management Offices: Surrey, British Columbia Calgary, Alberta Edmonton, Alberta Saskatoon, Saskatchewan Regina, Saskatchewan Yellowknife, Northwest Territories Toronto, Ontario Kitchener, Ontario Ottawa, Ontario Montréal, Québec Trust Information and Stock Exchange Listings Dundee REIT began trading on the Toronto Stock Exchange ( TSX ) on July 2, 2003. Dundee REIT was formed in connection with the reorganization of the business of Dundee Realty Corporation on June 30, 2003, pursuant to which substantially all of Dundee Realty s commercial real estate division, including senior management, and a joint interest in its property management business were transferred to the REIT. Dundee Realty was listed on the TSX from July 1997 to June 30, 2003. As at March 31, 2014, the REIT had 103,996,154 REIT Units, Series A and 3,538,457 LP Class B Units, Series 1 outstanding. Listing Symbols: TSX REIT Units, Series A: D.UN 5.5% Series H Debenture: D.DB.H 5.95% Senior Unsecured Debenture, Series K: D.DB.K

Transfer Agent Computershare Trust Company of Canada 100 University Avenue, 9 th Floor Toronto, Ontario, Canada M5H 2Y1 Board of Trustees (as at May 8, 2014) Joanne Ferstman, Chairperson Detlef Bierbaum Donald Charter Michael Cooper Peter Crossgrove Robert Goodall Duncan Jackman Executive Officers (as at May 8, 2014) P. Jane Gavan Chief Executive Officer Mario Barrafato Chief Financial Officer Ana Radic Chief Operating Officer Investor Relations Dundee Real Estate Investment Trust 30 Adelaide Street East, Suite 1600 Toronto, Ontario, Canada M5C 3H1 Telephone: (416) 365 3535 Fax: (416) 365 3545 info@dundeereit.com P. Jane Gavan Chief Executive Officer Telephone: (416) 365 6572 jgavan@dundeerealty.com Mario Barrafato Chief Financial Officer Telephone: (416) 365 4132 mbarrafato@dundeereit.com Barbara Wallner Vice President, Communications Telephone: (416) 365 3538 bwallner@dundeerealty.com Web Site www.dundeereit.com

Table 1: Revenue Properties March 31, 2014 Owned Share of Region Ownership in Square Feet in Square Feet Western Canada 1 93.9% 5,426,529 5,094,031 Calgary Downtown 89.9% 3,501,661 3,147,077 Calgary Suburban 1 87.9% 925,281 812,863 Toronto Downtown 86.7% 6,228,654 5,399,239 Toronto Suburban 76.5% 5,505,861 4,213,598 Eastern Canada 2 91.8% 6,420,122 5,890,644 Total 1 87.7% 28,008,109 24,557,452 Redevelopment Properties 100.0% 52,285 52,285 Held for Sale Properties 25.0% 369,384 92,347 Total Assets Including Redevelopment and Held for Sale Properties 86.9% 28,429,778 24,702,084 1 Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario COMMERCIAL REVENUE PROPERTIES BY REGION Toronto Downtown 22.0% Toronto Suburban 17.2% Calgary Suburban 3.3% Calgary Downtown 12.8% Eastern Canada 24.0% Western Canada 20.7%

Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset HSBC Bank Place, Edmonton 100.0% 299,491 299,491 1981 1.6 1.6 19-storey downtown office building with commercial parkade Enbridge Place, Edmonton 100.0% 262,456 262,456 1981 0.7 0.7 22-storey downtown office building Saskatoon Square, Saskatoon 100.0% 228,363 228,363 1980 0.6 0.6 18-storey downtown office building Station Tower, Surrey 100.0% 219,103 219,103 1994 1.0 1.0 18-storey office building with grade level retail 1900 Sherwood Place, Regina 100.0% 185,104 185,104 1992 2003 3.0 3.0 One 9-storey and one 2-storey downtown office buildings Milner Building, Edmonton 100.0% 173,325 173,325 1957 0.9 0.9 12-storey downtown office building 887 Great Northern Way, Vancouver 100.0% 164,364 164,364 1999 2.3 2.3 8-storey office building 2257 & 2301 Premier Way, Sherwood Park 100.0% 153,422 153,422 2003 8.7 8.7 2-storey suburban office building 2121 & 2181 Premier Way, Sherwood Park 100.0% 151,675 151,675 2005/2006 7.8 7.8 2-storey suburban office building Victoria Tower, Regina 100.0% 144,165 144,165 1976 0.8 0.8 15-storey downtown government office building Baker Centre, Edmonton 100.0% 143,994 143,994 1958 0.7 0.7 16-storey downtown office building with parkade Princeton Tower, Saskatoon 100.0% 133,163 133,163 1988 0.6 0.6 11-storey downtown office building with grade level retail 340-450 3rd Avenue N., Saskatoon 100.0% 130,415 130,415 1980 1993 1.1 1.1 2-storey office building HSBC Building, Edmonton 100.0% 118,418 118,418 1974 0.4 0.4 12-storey downtown office building with underground parking 4259-4299 Canada Way, Burnaby 100.0% 117,971 117,971 1973 1998 3.2 3.2 Two 2-storey suburban office buildings 13888 Wireless Way, Richmond 100.0% 116,530 116,530 2008 4.8 4.8 3-storey suburban office building Highfield Place, Edmonton 100.0% 104,578 104,578 1978 0.3 0.3 10-storey downtown office building Scotia Centre, Yellowknife 100.0% 102,840 102,840 1991 0.7 0.7 11-storey office building Richmond Place, Richmond 100.0% 94,656 94,656 1986 0.9 0.9 9-storey suburban office building 4400 Dominion Street, Burnaby 100.0% 93,095 93,095 1977 2000/2006 1.9 1.9 5-storey suburban office building 2055 Premier Way, Strathcona County 100.0% 91,137 91,137 2007 4.3 4.3 2-storey flex office building Precambrian Building, Yellowknife 100.0% 91,016 91,016 1976 0.8 0.8 11-storey office building 26229 Township Road 531, Parkland County 100.0% 89,165 89,165 1968 6.5 6.5 2-storey flex warehouse building Northwest Tower, Yellowknife 100.0% 87,994 87,994 1991 0.3 0.3 11-storey office building 625 Agnes Street, New Westminster 100.0% 85,632 85,632 1981 0.6 0.6 5-storey suburban office building 2899 Broadmoor Blvd., Strathcona County 100.0% 82,817 82,817 1999 3.5 3.5 2-storey suburban office building 2693 Broadmoor Blvd., Strathcona County 100.0% 81,873 81,873 2007 4.1 4.1 2-storey suburban office building 11404 Winterburn Rd NW, Edmonton 100.0% 82,341 82,341 2004 6.3 6.3 2-storey flex industrial building 1914 Hamilton Street, Regina 100.0% 82,264 82,264 1973 0.4 0.4 14-storey downtown office building 2665 Renfrew Street, Vancouver 100.0% 81,662 81,662 2009 3.3 3.3 2-storey suburban office building 350-450 Lansdowne Street, Kamloops 40.0% 190,670 76,268 1970 2008 11.9 4.8 One 1-storey, one 2-storey and one 4-storey retail and office complex 2833 Broadmoor Blvd., Strathcona County 100.0% 75,762 75,762 2000 3.2 3.2 2-storey flex office building 2261 Keating Cross Road, Victoria 40.0% 181,693 72,677 1999 4.9 2.0 One 2-storey with 4-storey suburban office buildings Financial Building, Regina 100.0% 65,764 65,764 1958 1992 0.6 0.6 8-storey downtown office building 4370 Dominion Street, Burnaby 100.0% 63,930 63,930 1983 1999 1.0 1.0 6-storey suburban office building Preston Centre, Saskatoon 100.0% 61,867 61,867 1988 2003 3.1 3.1 3-storey suburban office building with grade level retail 960 Quayside Drive, New Westminster 100.0% 61,694 61,694 1988 1.8 1.8 4-storey suburban office building 2755 Broadmoor Blvd., Sherwood Park 100.0% 61,302 61,302 2005 2.9 2.9 2-storey suburban office building 10199-101st Street NW, Edmonton 50.0% 121,357 60,679 1985 0.7 0.4 5-storey downtown office building 2220 College Avenue, Regina 100.0% 59,590 59,590 1976 0.6 0.6 7-storey suburban office building Morgex Building, Edmonton 100.0% 53,000 53,000 1982 1995 4.8 4.8 1-storey suburban office building Gallery Building, Yellowknife 100.0% 50,149 50,149 2012 0.1 0.1 3-storey office building 16134-114th Avenue NW, Edmonton 100.0% 48,542 48,542 2006 4.4 4.4 2-storey flex industrial building St. Albert Trail Centre, Edmonton 50.0% 96,804 48,402 2004 2005 6.0 3.0 1-storey suburban office building Harbour Landing, Phase 2, Regina, Saskatchewan 100.0% 38,738 38,738 2013 2.3 2.3 3-storey suburban office building 13183-146th Street NW, Edmonton 100.0% 38,861 38,861 2005 2.6 2.6 2-storey suburban office building 2400 College Avenue, Regina 100.0% 35,528 35,528 1977 0.5 0.5 5-storey suburban office building Royal Centre, Saskatoon 100.0% 32,131 32,131 1952 0.7 0.7 Retail component of office/retail complex 16104-114th Avenue NW, Edmonton 100.0% 28,722 28,722 1972 4.4 4.4 1-storey flex industrial building

Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset 2208 Scarth Street, Regina 100.0% 25,310 25,310 1974 3.2 3.2 2-storey suburban office building Royal Centre, Saskatoon 100.0% 16,423 16,423 1952 0.3 0.3 4-storey downtown office/retail complex 2445-13th Avenue, Regina 100.0% 16,096 16,096 1975 0.4 0.4 3-storey downtown office building 234-1st Avenue South, Saskatoon 100.0% 9,567 9,567 1971 0.7 0.7 4-storey parking garage with grade level retail Western Canada 93.9% 5,426,529 5,094,031 133.1 119.6 Telus Tower, Calgary 50.0% 709,169 354,585 1983 1.7 0.9 28-storey downtown office building IBM Corporate Park, Calgary 100.0% 357,277 357,277 2002 2.4 2.4 One 5-storey and two 6-storey downton office buildings 840-7th Avenue SW, Calgary 100.0% 269,498 269,498 1979 2001 0.4 0.4 20-storey downtown office building 444-7th Building, Calgary 100.0% 251,931 251,931 1963 1998 0.8 0.8 10-storey downtown office building McFarlane Tower, Calgary 100.0% 242,323 242,323 1979 2003 0.7 0.7 18-storey downtown office building Life Plaza, Calgary 100.0% 236,706 236,706 1980 1992 0.5 0.5 18-storey downtown office building Rocky Mountain Plaza, Calgary 100.0% 205,254 205,254 1972 0.9 0.9 14-storey downtown office building Northland Building, Calgary 100.0% 146,600 146,600 1982 0.4 0.4 14-storey downtown office building 606 4th Building & Barclay Parkade, Calgary 100.0% 134,094 134,094 1969 1998 0.3 0.3 14-storey downtown office building and parkade Roslyn Building, Calgary 100.0% 131,762 131,762 1966 2003 0.5 0.5 10-storey downtown office building Atrium I, Calgary 100.0% 109,793 109,793 1978 0.5 0.5 8-storey downtown office building Atrium II, Calgary 100.0% 109,392 109,392 1979 0.4 0.4 8-storey downtown office building 510-5th Street SW, Calgary 100.0% 109,181 109,181 1981 0.2 0.2 18-storey downtown office building Joffre Place, Calgary 100.0% 107,338 107,338 1980 0.6 0.6 6-storey downtown office building Dominion Centre, Calgary 100.0% 99,014 99,014 1979 0.3 0.3 11-storey downtown office building 435-4th Avenue SW, Calgary 100.0% 88,737 88,737 1978 0.4 0.4 7-storey downtown office building 1035-7th Ave SW, Calgary 100.0% 75,129 75,129 1979 2002 0.6 0.6 6-storey downtown office building Mount Royal Place, Calgary 100.0% 59,384 59,384 1979 2004 0.5 0.5 6-storey downtown office building 441-5th Avenue SW, Calgary 100.0% 59,079 59,079 1973 0.2 0.2 10-storey downtown office building Calgary Downtown Office 89.9% 3,501,661 3,147,077 12.4 11.5 Franklin Atrium, Calgary 100.0% 149,660 149,660 1981 7.9 7.9 Two 2-storey suburban office buildings Airport Corporate Centre, Calgary 100.0% 149,165 149,165 2000 - - 8-storey suburban office building 2891 Sunridge Way, Calgary 100.0% 87,250 87,250 2001 5.1 5.1 3-storey suburban office building Kensington House, Calgary 100.0% 77,906 77,906 1982 2002/2003 0.6 0.6 5-storey suburban office buidling with grade retail 3115-12th Street NE, Calgary 100.0% 73,541 73,541 1981 2.3 2.3 4-storey suburban office building 14505 Bannister Road, SE, Calgary 100.0% 61,226 61,226 2000 2.2 2.2 3-storey office building 9705 Horton Road SW, Calgary 100.0% 55,363 55,363 1976 0.8 0.8 One 5-storey and two 2-storey suburban office buildings Braithwaite Boyle Centre, Calgary 100.0% 54,794 54,794 1982 0.3 0.3 6-storey suburban office building Franklin Building, Calgary 100.0% 50,577 50,577 1978 2001 2.6 2.6 2-storey suburban office building 2816-11th Street NE, Calgary 100.0% 33,542 33,542 1981 0.9 0.9 3-storey suburban office building Centre 70, Calgary 15.0% 132,257 19,839 1977 2.0 0.3 8-storey suburban office building Calgary Suburban Office 87.9% 925,281 812,863 24.5 22.8 Scotia Plaza (40 King Street West), Toronto 66.7% 1,579,047 1,052,751 1989 2011 2.4 1.6 68-storey, 5-storey and 3-storey downtown office buildings with below grade Adelaide Place, Toronto 100.0% 655,702 655,702 1982 2001 2.1 2.1 One 22-storey and one 20-storey downtown office buildings State Street Financial Centre, Toronto 100.0% 413,933 413,933 1958 2001 1.3 1.3 17-storey downtown office building AIR MILES Tower, Toronto 100.0% 322,587 322,587 1992 0.7 0.7 20-storey downtown office building 655 Bay Street, Toronto 100.0% 297,878 297,878 1990 1.3 1.3 17-storey downtown office building Scotia Plaza (44 King Street West), Toronto 66.7% 401,705 267,817 1951 2011 0.6 0.4 26-storey downtown office building 74 Victoria St/137 Yonge St, Toronto 100.0% 265,812 265,812 1958 1968/2011 0.4 0.4 10-storey commercial office building 720 Bay Street, Toronto 100.0% 247,743 247,743 1989 0.6 0.6 11-storey downtown office building 36 Toronto Street, Toronto 100.0% 214,054 214,054 1875 2008/2009 0.5 0.5 13-storey downtown office building

Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset 18 King Street East, Toronto 100.0% 231,694 231,694 1967 2008/2009 0.5 0.5 18-storey downtown office building 330 Bay Street, Toronto 100.0% 161,726 161,726 1926 0.4 0.4 One 16-storey and one 11-storey downtown office buildings 100 Yonge Street, Toronto 66.7% 242,468 161,653 1989 0.3 0.2 17-storey downtown office building 20 Toronto St/33 Victoria St, Toronto 100.0% 157,852 157,852 1965 2009/2011 0.4 0.4 15-storey commercial office building 8 King Street East, Toronto 100.0% 147,648 147,648 1914 2006/2008 0.2 0.2 21-storey downtown office building 250 Dundas Street West, Toronto 100.0% 121,593 121,593 1983 0.6 0.6 8-storey downtown office building Victory Building, Toronto 100.0% 101,420 101,420 1925 2007/2008 0.2 0.2 20-storey downtown office building 425 Bloor Street East, Toronto 100.0% 83,528 83,528 1986 0.6 0.6 5-storey downtown office building 212 King Street West, Toronto 100.0% 73,277 73,277 1908 1980 0.4 0.4 6-storey downtown historical office building 357 Bay Street, Toronto 100.0% 63,529 63,529 1921 2008 0.2 0.2 10-storey downtown office building 360 Bay Street, Toronto 100.0% 57,744 57,744 1955 2007/2009 0.1 0.1 10-storey downtown office building 10 King Street East, Toronto 100.0% 57,253 57,253 1965 2010 0.1 0.1 14-storey downtown office building 350 Bay Street, Toronto 100.0% 52,782 52,782 1928 1987 0.1 0.1 13-storey downtown office building 67 Richmond Street West, Toronto 100.0% 50,158 50,158 1940 0.2 0.2 7-storey downtown office building 366 Bay Street, Toronto 100.0% 36,371 36,371 1959 2006/2009 0.1 0.1 12-storey downtown office building 49 Ontario Street, Toronto 40.0% 87,105 34,842 1972 1.1 0.4 7-storey downtown office building 56 Temperance Street, Toronto 100.0% 32,286 32,286 1984 2008 0.1 0.1 10-storey downtown office building 10 Lower Spadina Avenue, Toronto 40.0% 60,255 24,102 1988 0.1 0.0 7-storey downtown office building 83 Yonge Street, Toronto 100.0% 11,504 11,504 1857 2006 0.1 0.1 3-storey downtown office building with grade level retail Toronto Downtown 86.7% 6,228,654 5,399,239 15.7 13.9 5915-5935 Airport Road, Mississauga 100.0% 492,246 492,246 1983 10.5 10.5 11-storey suburban office building Aviva Corporate Centre, Toronto 100.0% 352,425 352,425 1987 9.8 9.8 3-storey, 2-storey, and 7-storey suburban office complex 6655-6725 Airport Road, Mississauga 100.0% 331,372 331,372 1983 12.6 12.6 6-storey and 7-storey suburban office buildings, 1-storey and 2-storey flex bu 5001 Yonge Street, Toronto 100.0% 308,568 308,568 1992 1.0 1.0 20-storey office building 2075 Kennedy Road, Toronto 100.0% 206,043 206,043 1991 5.4 5.4 13-storey suburban office building 5945-5955 Airport Road, Mississauga 100.0% 177,985 177,985 1981 6.8 6.8 3-storey suburban office complex 50 Burnhamthorpe Road West, Mississauga 49.9% 348,319 173,811 1987 2.1 1.0 15-storey suburban office building with retail space 30 Eglinton Avenue West, Mississauga 100.0% 165,012 165,012 1989 6.3 6.3 8-storey suburban office building 401 & 405 The West Mall Street, Toronto 40.0% 411,842 164,737 1985 2007 4.6 1.8 Two 11-storey suburban office buildings 300, 302 & 304 The East Mall, Toronto 49.9% 326,389 162,868 1973 4.5 2.2 9-storey and two 6-storey suburban office buildings 625 Cochrane Drive, Markham 100.0% 162,792 162,792 1989 5.8 5.8 10-storey suburban office building Valleywood Corporate Centre, Markham 100.0% 154,400 154,400 1990 16.6 16.6 9-storey suburban office building 90 Burnhamthorpe Road West, Mississauga 49.9% 301,355 150,376 1989 0.9 0.5 16-storey suburban office buildings with retail space 185 The West Mall, Toronto 49.9% 297,292 148,349 1989 2006 9.3 4.6 16-storey suburban office building 2645 Skymark Ave., Mississauga 100.0% 142,487 142,487 1984 6.6 6.6 2-storey suburban office building with warehouse 6299 Airport Road, Mississauga 100.0% 90,779 90,779 1975 2007 2.1 2.1 7-storey suburban office building 1020 Birchmount, Toronto 100.0% 87,161 87,161 1952 3.7 3.7 1-storey industrial building 6303 Airport Road, Mississauga 100.0% 80,325 80,325 1979 2007 1.8 1.8 5-storey suburban office building 195 The West Mall, Toronto 49.9% 160,812 80,245 1984 5.1 2.5 11-storey suburban office building 191 The West Mall, Toronto 49.9% 158,260 78,972 1985 5.0 2.5 11-storey suburban office building 586 Argus Road, Oakville 100.0% 74,570 74,570 1992 2011 2.6 2.6 2-storey suburban office building 2810 Matheson Boulevard East, Mississauga 49.9% 139,035 69,378 1989 5.3 2.6 8-storey suburban office building with grade level retail 6509 Airport Road, Mississauga 100.0% 60,000 60,000 1981 2010 2.9 2.9 2-storey suburban office building 2550 Argentia Road, Mississauga 100.0% 51,639 51,639 1987 4.9 4.9 2-storey suburban office building 100 Gough Road, Markham 100.0% 111,840 111,840 1980 9.2 9.2 2-storey suburban data centre 6501 Mississauga Road, Mississauga 40.0% 85,025 34,010 1982 7.6 3.0 1-storey suburban office building 2010 Winston Park Drive, Oakville 40.0% 79,137 31,655 1990 3.8 1.5 5-storey suburban office building 6531 Mississauga Road, Mississauga 40.0% 71,192 28,477 1978 6.5 2.6 1-storey suburban office building 80 Whitehall Drive, Markham 40.0% 60,805 24,322 1990 1.1 0.4 2-storey suburban office building

Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset 3035 Orlando Drive, Mississauga 100.0% 16,754 16,754 1991 2.4 2.4 1-storey suburban office building Toronto Suburban 76.5% 5,505,861 4,213,598 166.6 136.4 700 De la Gauchetière Street West, Montréal 100.0% 953,996 953,996 1983 2003/2010 1.6 1.6 28-storey downtown office building 445 Opus Industrial Boulevard, Mount Juliet, Nashville 100.0% 717,160 717,160 2010 16.5 16.5 1-storey industrial building 275 Dundas Street West, London 40.0% 540,933 216,373 1974 2.8 1.1 One 21-storey and one 23-storey downtown office buildings 200 Chemin Sainte-Foy, Quebec City 100.0% 398,351 398,351 1970 2005 0.4 0.4 12-storey office building with parking Market Square, Kitchener 100.0% 241,341 241,341 1975 1986 4.0 4.0 3-storey downtown office/retail building 100 Frederick Street, Kitchener 100.0% 239,455 239,455 1981 2005 1.8 1.8 10-storey downtown office building 1 Riverside Drive,Windsor 100.0% 235,915 235,915 2002 1.8 1.8 14-storey office building with ground floor podium and below grade retail 50 Queen Street North, Kitchener 100.0% 170,237 170,237 1978 2004 0.9 0.9 11-storey downtown office building 55 King Street West, Kitchener 100.0% 124,523 124,523 1992 1.1 1.1 12-storey downtown office building 235 King Street East, Kitchener 100.0% 100,797 100,797 1977 0.6 0.6 6-storey downtown office building with underground parking 22 Frederick Street, Kitchener 100.0% 95,855 95,855 1973 1999 0.7 0.7 12-storey downtown office building Accelerator Building, Waterloo 100.0% 92,762 92,762 2006 5.5 5.5 3-storey office building 180 Keil Drive South, Chatham 100.0% 36,927 36,927 2005 3.6 3.6 1-storey office building with parking 70 King Street East, Kitchener 100.0% 9,485 9,485 1977 2009 0.9 0.9 1-storey retail restaurant building 2450 Rue Girouard, Saint-Hyacinthe 100.0% 231,500 231,500 1959 1967 5.4 5.4 Two 5-storey office buildings 12800 Foster Street, Overland Park 100.0% 185,178 185,178 2006 10.0 10.0 5-storey office building with parking 400 Cumberland Road, Ottawa 100.0% 174,322 174,322 1972 2000 0.5 0.5 11-storey downtown office building 2200-2204 Walkley Road, Ottawa 100.0% 158,898 158,898 1985 7.1 7.1 One 2-storey and one 5-storey suburban office buildings 130 Slater Street, Ottawa 100.0% 122,907 122,907 1968 0.4 0.4 13-storey downtown office building 900 D'Youville, Quebec City 100.0% 122,671 122,671 1956 1988 0.5 0.5 One 9-storey and one 8-storey office buildings Gateway Business Park, Ottawa 100.0% 120,790 120,790 1987 6.0 6.0 Three 6-storey suburban office buildings 1125 Innovation Drive, Ottawa 100.0% 115,771 115,771 2000 7.0 7.0 One 3-storey and two 2-storey suburban office buildings 150 Metcalfe Street, Ottawa 100.0% 109,238 109,238 1991 0.2 0.2 22-storey downtown office building 22 Varennes Street, Gatineau 100.0% 107,783 107,783 2001 4.3 4.3 2-storey suburban office building 360 Laurier Avenue West,Ottawa 100.0% 107,298 107,298 1966 2010 0.3 0.3 11-storey downtown office building 580 Rue Grande Allée, Quebec City 100.0% 90,859 90,859 1912 1.0 1.0 6-storey office building with parkade 250 King Street, Fredericton 100.0% 80,162 80,162 1999 1.4 1.4 4-storey office building 277 Pleasant Street, Dartmouth 100.0% 76,527 76,527 1971 1.8 1.8 5-storey office building with underground parking 219 Laurier Avenue West, Ottawa 40.0% 187,783 75,113 1965 0.3 0.1 14-storey downtown office building 8550 Newman Boulevard, Montreal 100.0% 66,397 66,397 2001 2005 2.8 2.8 2-storey suburban office building 236 Brownlow Avenue, Dartmouth 100.0% 60,739 60,739 1987 4.2 4.2 1-storey suburban office building 2625 Queensview Drive, Ottawa 100.0% 46,156 46,156 1983 2.7 2.7 2-storey suburban office building 1305 Chemin Sainte-Foy, Quebec City 100.0% 36,556 36,556 1957 1991 0.3 0.3 5-storey office building with parking Seven Capella Court, Ottawa 100.0% 31,362 31,362 2002 1.3 1.3 3-storey suburban office building 111 Ilsley Avenue, Dartmouth 100.0% 27,428 27,428 1983 1.6 1.6 3-storey suburban office building 700 De la Gauchetière Street West, Montréal 79.2% 32,526 25,761 1983 2003/2010 1.6 1.3 3-level retail podium 680 Broadway Street, Tillsonburg 49.9% 47,016 23,461 2003 8.3 4.1 1-storey neighbourhood shopping plaza 141 Saint Jean Street, Quebec City 100.0% 22,333 22,333 1920 0.2 0.2 3-storey office/residential building 460 Two Nations Crossing, Fredericton 40.0% 50,945 20,378 2008 3.7 1.5 3-storey suburban office building 117 Kearney Lake Road, Halifax 35.0% 36,353 12,724 1994 4.2 1.5 1-storey retail plaza 55 Norfolk Street South, Simcoe 40.0% 12,887 5,155 1987 2000 0.6 0.2 2-storey office/retail complex Eastern Canada Office/US 91.8% 6,420,122 5,890,644 119.7 108.1 Total 87.7% 28,008,109 24,557,452 472.0 412.4

Table 2: Revenue Properties March 31, 2014 Owned Share of Total Site Owned Share Year Year Area of Site Area Property Ownership in Square Feet in Square Feet Built Renovated in Acres in Acres Description of Asset Redevelopment Properties: Bellanca Building, Yellowknife 100.0% 52,285 52,285 1973 1996 0.6 0.6 10-storey office building Redevelopment Properties 52,285 52,285 0.6 0.6 Held of Sale Properties: Riverbend Atrium, Calgary 25.0% 88,219 22,055 1981 2001 3.0 0.8 2-storey suburban office building Stockman Centre, Calgary 25.0% 62,526 15,632 1979 1.8 0.4 3-storey suburban office building with underground parking 10216-124th Street, Edmonton 25.0% 154,525 38,631 1983 1.0 0.3 7-storey downtown office building with underground parking Capital Centre, Edmonton 25.0% 64,114 16,029 1978 0.9 0.2 2-storey downtown office building Held for Sale Properties 369,384 92,347 6.7 1.7 Total Including Redeveloped Properties 28,429,778 24,702,084 479.2 414.6

Table 3: Expiring vs Market Rents 1 (2014-2018) March 31, 2014 45 46 47 48 49 50 Owned Share of Monthly and Temporary Expiring Rent Expiring Rent Expiring Rent Expiring Rent Expiring Rent Region in Square Feet Tenancies 2014 2015 2016 2017 2018 Western Canada 1 5,094,031 $ - $ 16.36 $ 17.04 $ 16.99 $ 21.11 $ 17.49 Calgary Downtown 3,147,077 $ 45.81 $ 22.92 $ 15.03 $ 22.44 $ 22.03 $ 26.07 Calgary Suburban 1 812,863 $ - $ 12.84 $ 20.00 $ 13.72 $ 16.94 $ 20.18 Toronto Downtown 5,399,239 $ 6.50 $ 19.28 $ 21.71 $ 21.51 $ 22.75 $ 24.52 Toronto Suburban 4,213,598 $ - $ 12.88 $ 13.05 $ 15.47 $ 14.67 $ 15.40 Eastern Canada 2 5,890,644 $ 3.36 $ 13.04 $ 16.14 $ 16.34 $ 14.67 $ 14.50 Total 3 24,557,452 $ 42.94 $ 15.79 $ 16.25 $ 18.73 $ 18.81 $ 19.14 2013 Market Rent for Contracted Lease Expiries 4 $ 29.05 $ 16.80 $ 18.25 $ 20.76 $ 19.24 $ 19.51 Expiring vs Market Rents 2014-2018 Monthly and Short Term Tenancies 2014 2015 2016 2017 2018 1 Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario 3 Expiring Rents reflect cash rents 4 Estimate only, subject to change with market conditions in each market segment, not inflated for future years

Table 4: Average In-Place Rents March 31, 2014 Owned Share of Average In Place Net Rent Market Rent 1 Region in Square Feet Total Occupied GLA Total Occupied GLA Western Canada 1 5,094,031 $ 18.92 $ 20.65 Calgary Downtown 3,147,077 $ 21.92 $ 25.58 Calgary Suburban 1 812,863 $ 16.32 $ 17.98 Toronto Downtown 5,399,239 $ 23.35 $ 25.71 Toronto Suburban 4,213,598 $ 14.42 $ 14.90 Eastern Canada 2 5,890,644 $ 12.61 $ 13.05 Total 3 24,557,452 $ 17.97 $ 19.57 1 Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario 3 Estimate only, subject to change with market conditions in each market segment, not inflated for future years

Table 5: Annual Contracted Lease Rollovers (2014-2019+) March 31, 2014 Owned Share of Total GLA Owned Share Owned Share Monthly and Temporary Owned Share Expiring Owned Share Expiring Owned Share Expiring Owned Share Expiring Owned Share Expiring Owned Share Expiring Region in Square Feet Vacant Tenancies 2014 2015 2016 2017 2018 2019+ 12 13 14 16 17 19 20 22 Western Canada 1 5,094,031 341,105 1,184 366,752 500,645 882,635 813,864 834,925 1,352,920 Calgary Downtown 3,147,077 128,888 100,518 186,504 272,216 782,066 328,937 365,879 982,069 Calgary Suburban 1 812,863 112,790 244 18,437 67,920 124,540 166,591 144,125 178,217 Toronto Downtown 5,399,239 172,119 2,496 135,089 296,477 697,297 908,506 552,055 2,635,200 Toronto Suburban 4,213,598 319,077 674 428,188 592,059 492,209 904,748 343,920 1,132,723 Eastern Canada 2 5,890,644 356,383 2,709 205,368 467,690 457,248 590,961 647,089 3,163,199 Total 1 24,557,452 1,430,361 107,825 1,340,338 2,197,007 3,435,994 3,713,606 2,887,992 9,444,329 100.0% 5.8% 0.4% 5.5% 8.9% 14.0% 15.1% 11.8% 38.5% (10,104,242) (3,383) (633,556) (1,059,749) (949,457) (1,495,709) (991,009) Annual Contracted Lease Rollovers 2014-2019+ by Region 38.5% 5.8% 0.4% 5.5% 8.9% 14.0% 15.1% 11.8% Owned Share Vacant Owned Share Monthly and Temporary Tenancies 2014 2015 2016 2017 2018 2019+ 1 Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario

Average Remaining Lease Term and Tenant Size by Region March 31, 2014 Average Remaining Lease Term in Years Average Tenant Size in Square Feet #DIV/0! Total1 5.01 1 Total 11,549 Eastern Canada 2 6.86 2 Eastern Canada 17,706 Toronto Suburban 3.72 Toronto Suburban 11,170 Toronto Downtown 6.14 Toronto Downtown 10,636 Calgary Suburban 1 3.77 1 Calgary Suburban 6,443 Calgary Downtown 3.67 Calgary Downtown 11,312 1 Western Canada 3.72 1 Western Canada 10,102 1 Excludes Redevelopment and Held for Sale Properties 2 Includes Properties in Southwestern Ontario

Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy HSBC Bank Place, Edmonton 299,491 299,491 18 15,486 2.21 20,745 93.1% 278,746 Enbridge Place, Edmonton 262,456 262,456 5 52,491 4.67-100.0% 262,456 Saskatoon Square, Saskatoon 228,363 228,363 14 15,402 4.00 12,739 94.4% 215,624 Station Tower, Surrey 219,103 219,103 17 11,859 5.17 17,505 92.0% 201,598 1900 Sherwood Place, Regina 185,104 185,104 7 26,443 4.55-100.0% 185,104 Milner Building, Edmonton 173,325 173,325 5 34,665 3.45-100.0% 173,325 887 Great Northern Way, Vancouver 164,364 164,364 5 32,873 4.72-100.0% 164,364 Victoria Tower, Regina 144,165 144,165 2 72,083 4.52-100.0% 144,165 Baker Centre, Edmonton 143,994 143,994 25 5,119 3.41 16,017 88.9% 127,977 Princeton Tower, Saskatoon 133,163 133,163 17 6,514 3.75 22,425 83.2% 110,738 340-450 3rd Avenue N., Saskatoon 130,415 130,415 6 21,736 1.13-100.0% 130,415 HSBC Building, Edmonton 118,418 118,418 19 5,807 2.29 8,082 93.2% 110,336 4259-4299 Canada Way, Burnaby 117,971 117,971 16 6,197 1.85 18,814 84.1% 99,157 13888 Wireless Way, Richmond 116,530 116,530 2 58,265 4.06-100.0% 116,530 Highfield Place, Edmonton 104,578 104,578 5 9,874 2.05 55,208 47.2% 49,370 Scotia Centre, Yellowknife 102,840 102,840 13 7,639 7.94 3,537 96.6% 99,303 Richmond Place, Richmond 94,656 94,656 8 9,994 3.01 14,704 84.5% 79,952 4400 Dominion Street, Burnaby 93,095 93,095 19 4,771 4.30 2,442 97.4% 90,653 2055 Premier Way, Strathcona County 91,137 91,137 11 8,285 4.03-100.0% 91,137 Precambrian Building, Yellowknife 91,016 91,016 8 9,797 2.53 12,638 86.1% 78,378 26229 Township Road 531, Parkland County 89,165 89,165 14 6,229 3.68 1,960 97.8% 87,205 Northwest Tower, Yellowknife 87,994 87,994 14 5,760 5.71 7,349 91.6% 80,645 625 Agnes Street, New Westminster 85,632 85,632 12 6,480 3.33 7,873 90.8% 77,759 2899 Broadmoor Blvd., Strathcona County 82,817 82,817 6 13,803 2.68-100.0% 82,817 2693 Broadmoor Blvd., Strathcona County 81,873 81,873 10 7,608 2.88 5,790 92.9% 76,083 11404 Winterburn Rd NW, Edmonton 82,341 82,341 15 5,023 1.45 7,000 91.5% 75,341 1914 Hamilton Street, Regina 82,264 82,264 7 11,752 1.98-100.0% 82,264 2665 Renfrew Street, Vancouver 81,662 81,662 1 81,662 6.25-100.0% 81,662 350-450 Lansdowne Street, Kamloops 190,670 76,268 29 5,525 5.40 12,174 84.0% 64,094 2833 Broadmoor Blvd., Strathcona County 75,762 75,762 17 3,646 3.00 13,786 81.8% 61,976 2261 Keating Cross Road, Victoria 181,693 72,677 7 21,542 2.34 12,361 83.0% 60,316 Financial Building, Regina 65,764 65,764 3 21,921 1.79-100.0% 65,764 4370 Dominion Street, Burnaby 63,930 63,930 9 6,970 2.40 1,202 98.1% 62,728 Preston Centre, Saskatoon 61,867 61,867 13 4,759 5.72-100.0% 61,867 960 Quayside Drive, New Westminster 61,694 61,694 12 4,869 2.61 3,272 94.7% 58,422 2755 Broadmoor Blvd., Sherwood Park 366,399 366,399 51 6,908 3.15 14,086 96.2% 352,313 10199-101st Street NW, Edmonton 121,357 60,679 1 65,532 3.54 27,913 54.0% 32,767 2220 College Avenue, Regina 59,590 59,590 1 59,590 2.34-100.0% 59,590 Morgex Building, Edmonton 53,000 53,000 1 53,000 5.50-100.0% 53,000

Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy Gallery Building, Yellowknife 50,149 50,149 1 50,149 7.92-100.0% 50,149 16134-114th Avenue NW, Edmonton 48,542 48,542 8 4,842 1.39 9,804 79.8% 38,738 St. Albert Trail Centre, Edmonton 96,804 48,402 1 96,804 5.67-100.0% 48,402 Harbour Landing, Phase 2, Regina, Saskatchewan 38,738 38,738 2 19,369 9.37-100.0% 38,738 13183-146th Street NW, Edmonton 38,861 38,861 6 6,477 3.98-100.0% 38,861 2400 College Avenue, Regina 35,528 35,528 4 8,195 1.60 2,747 92.3% 32,781 Royal Centre, Saskatoon 32,131 32,131 2 16,066 5.00-100.0% 32,131 16104-114th Avenue NW, Edmonton 28,722 28,722 6 4,427 2.65 2,160 92.5% 26,562 2208 Scarth Street, Regina 25,310 25,310 4 6,328 4.29-100.0% 25,310 Royal Centre, Saskatoon 16,423 16,423 6 2,479 2.99 1,550 90.6% 14,873 2445-13th Avenue, Regina 16,096 16,096 6 1,812 1.61 5,222 67.6% 10,874 234-1st Avenue South, Saskatoon 9,567 9,567 6 1,595 2.06-100.0% 9,567 Western Canada 1 5,426,529 5,094,031 497 10,102.03 3.72 341,105 93.3% 4,752,926 Telus Tower, Calgary 709,169 354,585 6 117,617 2.51 1,734 99.5% 352,851 IBM Corporate Park, Calgary 357,277 357,277 10 35,728 4.42-100.0% 357,277 840-7th Avenue SW, Calgary 269,498 269,498 24 10,802 2.15 10,243 96.2% 259,255 444-7th Building, Calgary 251,931 251,931 5 48,300 2.78 10,431 95.9% 241,500 McFarlane Tower, Calgary 242,323 242,323 33 7,098 3.79 8,101 96.7% 234,222 Life Plaza, Calgary 236,706 236,706 35 6,410 3.30 12,358 94.8% 224,348 Rocky Mountain Plaza, Calgary 205,254 205,254 14 14,185 7.63 6,667 96.8% 198,587 Northland Building, Calgary 146,600 146,600 22 5,944 3.24 15,822 89.2% 130,778 606 4th Building & Barclay Parkade, Calgary 134,094 134,094 13 9,769 2.37 7,097 94.7% 126,997 Roslyn Building, Calgary 131,762 131,762 14 9,309 2.32 1,432 98.9% 130,330 Atrium I, Calgary 109,793 109,793 8 13,724 4.65-100.0% 109,793 Atrium II, Calgary 109,392 109,392 15 6,320 4.68 14,599 86.7% 94,793 510-5th Street SW, Calgary 109,181 109,181 29 3,578 3.41 5,406 95.0% 103,775 Joffre Place, Calgary 107,338 107,338 12 8,210 5.18 8,819 91.8% 98,519 Dominion Centre, Calgary 99,014 99,014 6 15,239 4.33 7,581 92.3% 91,433 435-4th Avenue SW, Calgary 88,737 88,737 16 5,381 4.21 2,642 97.0% 86,095 1035-7th Ave SW, Calgary 75,129 75,129 3 23,903 4.13 3,420 95.4% 71,709 Mount Royal Place, Calgary 59,384 59,384 18 3,195 3.13 1,866 96.9% 57,518 441-5th Avenue SW, Calgary 59,079 59,079 15 3,227 3.23 10,670 81.9% 48,409 Calgary Downtown Office 3,501,661 3,147,077 298 11,312 3.67 128,888 95.9% 3,018,189 Franklin Atrium, Calgary 149,660 149,660 9 15,648 3.98 8,832 94.1% 140,828 Airport Corporate Centre, Calgary 149,165 149,165 10 12,601 3.36 23,152 84.5% 126,013 2891 Sunridge Way, Calgary 87,250 87,250 4 21,813 4.55-100.0% 87,250 Kensington House, Calgary 77,906 77,906 15 4,967 2.81 3,402 95.6% 74,504 3115-12th Street NE, Calgary 73,541 73,541 9 3,826 3.77 39,106 46.8% 34,435

Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy 14505 Bannister Road, SE, Calgary 61,226 61,226 5 12,245 5.98-100.0% 61,226 9705 Horton Road SW, Calgary 55,363 55,363 20 2,404 2.28 7,290 86.8% 48,073 Braithwaite Boyle Centre, Calgary 54,794 54,794 7 5,908 3.57 13,437 75.5% 41,357 Franklin Building, Calgary 50,577 50,577 3 16,859 3.69-100.0% 50,577 2816-11th Street NE, Calgary 33,542 33,542 3 6,123 3.58 15,173 54.8% 18,369 Centre 70, Calgary 132,257 19,839 39 2,981 2.62 2,398 87.9% 17,441 Calgary Suburban Office 1 925,281 812,863 124 6,443 3.77 112,790 86.1% 700,073 Scotia Plaza (40 King Street West), Toronto 1,579,047 1,052,751 64 24,295 8.62 16,130 98.5% 1,036,621 Adelaide Place, Toronto 655,702 655,702 72 8,820 4.78 20,657 96.8% 635,045 State Street Financial Centre, Toronto 413,933 413,933 9 45,993 9.00-100.0% 413,933 AIR MILES Tower, Toronto 322,587 322,587 20 15,977 3.53 3,044 99.1% 319,543 655 Bay Street, Toronto 297,878 297,878 22 13,156 4.35 8,451 97.2% 289,427 Scotia Plaza (44 King Street West), Toronto 401,705 267,817 1 401,705 13.26-100.0% 267,817 74 Victoria St/137 Yonge St, Toronto 265,812 265,812 5 53,162 6.60-100.0% 265,812 720 Bay Street, Toronto 247,743 247,743 1 247,743 6.76-100.0% 247,743 36 Toronto Street, Toronto 214,054 214,054 36 5,788 3.97 5,703 97.3% 208,351 18 King Street East, Toronto 231,694 231,694 25 9,036 3.04 5,782 97.5% 225,912 330 Bay Street, Toronto 161,726 161,726 37 3,594 3.72 28,746 82.2% 132,980 100 Yonge Street, Toronto 242,468 161,653 15 16,147 7.56 172 99.9% 161,481 20 Toronto St/33 Victoria St, Toronto 157,852 157,852 26 5,869 4.66 5,246 96.7% 152,606 8 King Street East, Toronto 147,648 147,648 49 2,887 2.98 6,200 95.8% 141,448 250 Dundas Street West, Toronto 121,593 121,593 19 6,400 5.11-100.0% 121,593 Victory Building, Toronto 101,420 101,420 44 2,183 4.23 5,370 94.7% 96,050 425 Bloor Street East, Toronto 83,528 83,528 8 8,916 3.51 12,203 85.4% 71,325 212 King Street West, Toronto 73,277 73,277 10 7,328 3.89-100.0% 73,277 357 Bay Street, Toronto 63,529 63,529 22 2,018 1.88 19,126 69.9% 44,403 360 Bay Street, Toronto 57,744 57,744 15 3,312 2.98 8,067 86.0% 49,677 10 King Street East, Toronto 57,253 57,253 20 2,632 3.41 4,613 91.9% 52,640 350 Bay Street, Toronto 52,782 52,782 12 3,715 3.45 8,206 84.5% 44,576 67 Richmond Street West, Toronto 50,158 50,158 5 10,032 3.07-100.0% 50,158 366 Bay Street, Toronto 36,371 36,371 11 2,744 2.83 6,182 83.0% 30,189 49 Ontario Street, Toronto 87,105 34,842 2 40,042 4.06 2,808 91.9% 32,034 56 Temperance Street, Toronto 32,286 32,286 8 3,605 2.41 3,443 89.3% 28,843 10 Lower Spadina Avenue, Toronto 60,255 24,102 6 9,222 3.85 1,970 91.8% 22,132 83 Yonge Street, Toronto 11,504 11,504 4 2,876 3.64-100.0% 11,504 Toronto Downtown 6,228,654 5,399,239 568 10,636 6.14 172,119 96.8% 5,227,120 5915-5935 Airport Road, Mississauga 492,246 492,246 54 7,488 2.91 87,897 82.1% 404,349 Aviva Corporate Centre, Toronto 352,425 352,425 9 39,158 3.29-100.0% 352,425

Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy 6655-6725 Airport Road, Mississauga 331,372 331,372 9 36,819 2.32-100.0% 331,372 5001 Yonge Street, Toronto 308,568 308,568 21 14,572 4.03 2,547 99.2% 306,021 2075 Kennedy Road, Toronto 206,043 206,043 11 16,455 3.32 25,041 87.8% 181,002 5945-5955 Airport Road, Mississauga 177,985 177,985 32 5,016 2.44 17,489 90.2% 160,496 50 Burnhamthorpe Road West, Mississauga 348,319 173,811 32 8,799 4.72 33,315 80.8% 140,496 30 Eglinton Avenue West, Mississauga 165,012 165,012 37 3,881 3.94 21,425 87.0% 143,587 401 & 405 The West Mall Street, Toronto 411,842 164,737 21 19,087 4.27 4,405 97.3% 160,332 300, 302 & 304 The East Mall, Toronto 326,389 162,868 26 12,278 4.20 3,573 97.8% 159,295 625 Cochrane Drive, Markham 162,792 162,792 13 12,522 4.52-100.0% 162,792 Valleywood Corporate Centre, Markham 154,400 154,400 11 13,225 4.22 8,930 94.2% 145,470 90 Burnhamthorpe Road West, Mississauga 301,355 150,376 20 13,352 5.10 17,121 88.6% 133,255 185 The West Mall, Toronto 297,292 148,349 24 11,902 4.57 5,816 96.1% 142,533 2645 Skymark Ave., Mississauga 142,487 142,487 2 71,244 0.25-100.0% 142,487 6299 Airport Road, Mississauga 90,779 90,779 25 3,191 4.50 10,996 87.9% 79,783 1020 Birchmount, Toronto 87,161 87,161 1 55,000 1.84 32,161 63.1% 55,000 6303 Airport Road, Mississauga 80,325 80,325 8 9,220 6.57 6,563 91.8% 73,762 195 The West Mall, Toronto 160,812 80,245 1 160,812 6.76-100.0% 80,245 191 The West Mall, Toronto 158,260 78,972 8 18,467 5.14 5,253 93.3% 73,719 586 Argus Road, Oakville 74,570 74,570 5 14,914 3.24-100.0% 74,570 2810 Matheson Boulevard East, Mississauga 139,035 69,378 9 13,693 5.85 7,883 88.6% 61,495 6509 Airport Road, Mississauga 60,000 60,000 1 60,000 6.76-100.0% 60,000 2550 Argentia Road, Mississauga 51,639 51,639 18 2,600 5.15 4,848 90.6% 46,791 100 Gough Road, Markham 111,840 111,840 1 111,840 2.42-100.0% 111,840 6501 Mississauga Road, Mississauga 85,025 34,010 22 2,994 3.00 7,662 77.5% 26,348 2010 Winston Park Drive, Oakville 79,137 31,655 8 6,717 3.21 10,161 67.9% 21,494 6531 Mississauga Road, Mississauga 71,192 28,477 22 2,555 2.62 5,991 79.0% 22,486 80 Whitehall Drive, Markham 60,805 24,322 2 30,403 5.01-100.0% 24,322 3035 Orlando Drive, Mississauga 16,754 16,754 1 16,754 8.17-100.0% 16,754 Toronto Suburban 5,505,861 4,213,598 454 11,170 3.72 319,077 92.4% 3,894,521 700 De la Gauchetière Street West, Montréal 953,996 953,996 13 70,918 6.50 32,063 96.6% 921,933 445 Opus Industrial Boulevard, Mount Juliet, Nashville 717,160 717,160 1 717,160 12.01-100.0% 717,160 275 Dundas Street West, London 540,933 216,373 21 24,138 3.70 13,616 93.7% 202,757 200 Chemin Sainte-Foy, Quebec City 398,351 398,351 2 199,176 16.08-100.0% 398,351 Market Square, Kitchener 241,341 241,341 20 11,897 3.58 3,398 98.6% 237,943 100 Frederick Street, Kitchener 239,455 239,455 15 14,113 2.72 27,753 88.4% 211,702 1 Riverside Drive,Windsor 235,915 235,915 6 31,726 7.93 45,562 80.7% 190,353 50 Queen Street North, Kitchener 170,237 170,237 14 11,362 2.64 11,176 93.4% 159,061 55 King Street West, Kitchener 124,523 124,523 10 8,840 3.53 36,126 71.0% 88,397 235 King Street East, Kitchener 100,797 100,797 4 19,756 5.17 21,772 78.4% 79,025

Table 6: Occupancy By Asset March 31, 2014 Owned Share of Average Tenant Average Lease Owned Share Owned Shared No. of Size Term Remaining Vacant Property in Square Feet in Square Feet Tenants in Square Feet in years in Square Feet Occupancy % Occupancy 22 Frederick Street, Kitchener 95,855 95,855 15 4,894 3.09 22,442 76.6% 73,413 Accelerator Building, Waterloo 92,762 92,762 4 23,191 8.17-100.0% 92,762 180 Keil Drive South, Chatham 36,927 36,927 1 36,927 4.08-100.0% 36,927 70 King Street East, Kitchener 9,485 9,485 1 9,485 5.04-100.0% 9,485 2450 Rue Girouard, Saint-Hyacinthe 231,500 231,500 1 231,500 11.98-100.0% 231,500 12800 Foster Street, Overland Park 185,178 185,178 1 185,178 6.67-100.0% 185,178 400 Cumberland Road, Ottawa 174,322 174,322 3 58,107 1.30-100.0% 174,322 2200-2204 Walkley Road, Ottawa 158,898 158,898 3 52,966 3.49-100.0% 158,898 130 Slater Street, Ottawa 122,907 122,907 26 4,622 3.50 2,745 97.8% 120,162 900 D'Youville, Quebec City 122,671 122,671 4 30,109 11.00 2,237 98.2% 120,434 Gateway Business Park, Ottawa 120,790 120,790 38 2,934 3.63 9,302 92.3% 111,488 1125 Innovation Drive, Ottawa 115,771 115,771 4 23,384 4.61 22,235 80.8% 93,536 150 Metcalfe Street, Ottawa 109,238 109,238 25 4,338 3.54 782 99.3% 108,456 22 Varennes Street, Gatineau 107,783 107,783 1 107,783 3.59-100.0% 107,783 360 Laurier Avenue West,Ottawa 107,298 107,298 7 15,328 3.92-100.0% 107,298 580 Rue Grande Allée, Quebec City 90,859 90,859 15 3,772 2.75 34,280 62.3% 56,579 250 King Street, Fredericton 80,162 80,162 3 26,721 5.51-100.0% 80,162 277 Pleasant Street, Dartmouth 76,527 76,527 5 15,085 2.62 1,100 98.6% 75,427 219 Laurier Avenue West, Ottawa 187,783 75,113 5 37,557 2.19-100.0% 75,113 8550 Newman Boulevard, Montreal 66,397 66,397 6 9,359 2.67 10,245 84.6% 56,152 236 Brownlow Avenue, Dartmouth 60,739 60,739 1 21,430 2.76 39,309 35.3% 21,430 2625 Queensview Drive, Ottawa 46,156 46,156 5 9,231 4.35-100.0% 46,156 1305 Chemin Sainte-Foy, Quebec City 36,556 36,556 7 4,022 8.44 8,402 77.0% 28,154 Seven Capella Court, Ottawa 31,362 31,362 1 31,362 1.08-100.0% 31,362 111 Ilsley Avenue, Dartmouth 27,428 27,428 5 4,721 2.24 3,822 86.1% 23,606 700 De la Gauchetière Street West, Montréal 32,526 25,761 24 964 4.59 7,435 71.1% 18,326 680 Broadway Street, Tillsonburg 47,016 23,461 4 11,754 8.91-100.0% 23,461 141 Saint Jean Street, Quebec City 22,333 22,333 3 7,444 1.33-100.0% 22,333 460 Two Nations Crossing, Fredericton 50,945 20,378 1 50,945 14.35-100.0% 20,378 117 Kearney Lake Road, Halifax 36,353 12,724 14 2,478 3.34 580 95.4% 12,144 55 Norfolk Street South, Simcoe 12,887 5,155 1 12,887 2.92-100.0% 5,155 Eastern Canada Office/US 6,420,122 5,890,644 340 17,706 6.86 356,383 94.0% 5,534,261 Total 1 28,008,109 24,557,452 2,281 11,549 5.01 1,430,361 94.2% 23,127,091 1 Excludes Redevelopment and Held for Sale Properties

Table 7a: Largest Tenants by GLA March 31, 2014 Owned Area of Tenant in Square Feet Properties City Province Government of Canada 1,618,361 2 Properties Yellowknife Northwest Territories 1 Property Surrey British Columbia 1 Property New Westminster British Columbia 1 Property Burnaby British Columbia 4 Properties Saskatoon Saskatchewan 1 Property Regina Saskatchewan 3 Properties Calgary Alberta 2 Properties Edmonton Alberta 4 Properties Toronto Ontario 3 Properties Kitchener Ontario 6 Properties Ottawa Ontario 1 Property Gatineau Quebec 1 Properties Dartmouth Nova Scotia Bank of Nova Scotia 991,269 1 Property Yellowknife Northwest Territories 1 Property Surrey British Columbia 1 Property Calgary Alberta 2 Properties Saskatoon Saskatchewan 7 Properties Toronto Ontario 1 Property Markham Ontario 2 Properties Mississauga Ontario 2 Properties Kitchener Ontario Nissan North America Inc. 717,160 445 Opus Industrial Boulevard Mount Juliet Nashville Government of Quebec 696,849 1 Property Montreal Quebec 4 Properties Quebec City Quebec Government of Ontario 670,353 7 Properties Toronto Ontario 1 Property Ottawa Ontario 1 Property Kitchener Ontario Bell Canada 376,694 Northwest Tower Yellowknife Northwest Territories 350-450 Lansdowne Kamloops British Columbia Enbridge Place Edmonton Alberta Scotia Plaza Toronto Ontario Gateway Business Park Ottawa Ontario 700 De la Gauchetiere Street West Montreal Quebec Government of Saskatchewan 374,736 6 Properties Regina Saskatchewan 1 Property Saskatoon Saskatchewan Aviva Canada Inc. 335,900 HSBC Bank Place Edmonton Alberta 2200-2206 Eglinton Avenue Toronto Ontario East Government of Alberta 312,481 8 Properties Calgary Alberta 4 Properties Edmonton Alberta Telus 287,803 2261 Keating Cross Road Victoria British Columbia Telus Tower Calgary Alberta Government of British Columbia 272,867 Station Tower Surrey British Columbia 2 Properties New Westminster British Columbia

Table 7a: Largest Tenants by GLA March 31, 2014 Owned Area of Tenant in Square Feet Properties City Province 4370 Dominion Street Burnaby British Columbia Richmond Place Richmond British Columbia 2261 Keating Cross Road Victoria British Columbia 350-450 Lansdowne Kamloops British Columbia Intact Financial Corporation 263,214 IBM Corporate Park Calgary Alberta 2450 Girouard Street West Saint-Hyacinthe Quebec Enbridge Pipelines Inc. 248,577 Enbridge Place Edmonton Alberta State Street Trust Company 244,936 State Street Financial Centre Toronto Ontario 18 King Street East Toronto Ontario Winners Merchants International 219,685 1 Property Toronto Ontario 2 Properties Mississauga Ontario TD Canada Trust 217,058 Saskatoon Square Saskatoon Saskatchewan 1914 Hamilton Street Regina Saskatchewan 300, 302 & 304 The East Mall Toronto Ontario 55 King Street West Kitchener Ontario 275 Dundas Street West London Ontario SNC-Lavalin Inc. 209,002 1 Property Yellowknife Northwest Territories 1 Property Calgary Alberta 4 Properties Toronto Ontario Loyalty Management 194,018 AIR MILES Tower Toronto Ontario Newalta Corporation 187,297 3 Properties Calgary Alberta U.S. Bank National Association 185,178 12800 Foster Street Overland Park Kansas City Dundee Realty Management Corp 173,537 2 Properties Yellowknife Northwest Territories 1 Property Surrey British Columbia 1 Property New Westminster British Columbia 1 Property Richmond British Columbia 2 Properties Saskatoon Saskatchewan 1 Property Regina Saskatchewan 5 Properties Calgary Alberta 2 Properties Edmonton Alberta 6 Properties Toronto Ontario 1 Property Ottawa Ontario 4 Properties Mississauga Ontario 3 Properties Kitchener Ontario 1 Property Windsor Ontario 1 Property Montreal Quebec IBM Canada Ltd. 170,379 IBM Corporate Park Calgary Alberta 100 Gough Road Markham Ontario 5001 Yonge Street Toronto Ontario ATCO Group 168,169 2 Properties Edmonton Alberta

Table 7a: Largest Tenants by GLA March 31, 2014 Owned Area of Tenant in Square Feet Properties City Province 700 De la Gauchetiere Street Montreal Quebec AON Canada Inc. 166,609 West The City of Edmonton 160,384 2 Properties Edmonton Alberta Cenovus Energy Inc. 140,605 Rocky Mountain Plaza Calgary Alberta Miller Thomson 137,049 Valleywood Corporate Centre Markham Ontario Accelerator Building Waterloo Kitchener Scotia Plaza Toronto Ontario Daimler Chrysler Canada Inc. 132,500 1 Riverside Drive Windsor Ontario Stantec Consulting Ltd. 131,156 Station Tower Surrey British Columbia 4370 Dominion Street Burnaby British Columbia Market Square Kitchener Ontario 2261 Keating Cross Road Victoria British Columbia Government of NW Territories 126,591 3 Properties Yellowknife Northwest Territories Borell Management 124,795 Scotia Plaza. Toronto Ontario Nautilus Fitness & Raquet Centre 117,893 Market Square Kitchener Ontario 5 Properties Toronto Ontario Conex Rental Corp & Flint Energy 113,801 2 Properties Edmonton Alberta Hatch Optima Ltd 110,383 840-7th Avenue SW Calgary Alberta International Financial Data 107,490 State Street Financial Centre Toronto Ontario Minacs Worldwide Inc. 103,658 6655-6725 Airport Road Mississauga Ontario 180 Keil Drive South Chatham Ontario Government of New Brunswick 100,540 2 Properties Fredericton New Brunswick Total 10,908,976

Table 7b. Largest Tenants by annualized Gross Rent March 31, 2014 (Includes all tenants where projected annualized gross contract rent exceeds CDN $1,000,000) Rank Tenant Cumulative gross revenue Rank Tenant Cumulative gross revenue $2,500,000 or greater $ 396,144,313 Between $1,000,000 and $2,499,999: $ 108,964,959 1. Bank of Nova Scotia 47. National Bank of Canada 2. Government of Canada 48. Conex Rental 3. Government of Ontario 49. BDO Dunwoody 4. Government of Quebec 50. Great West Life Assurance Co 5. Bell Canada 51. CB Richard Ellis Limited 6. Telus 52. Minacs Worldwide Inc. 7. Enbridge Pipelines Inc. 53. Livingston International Inc. 8. Government of Saskatchewan 54. Rogers Communication Inc. 9. State Street Trust Company 55. DBRS 10. Government of Alberta 56. Bereskin & Parr Management 11. Aviva Canada Inc. 57. Gemini Corporation 12. Newalta Corporation 58. Encana Corporation 13. Government of British Columbia 59. Artumas Group 14. Borell Management 60. MCAP Services Corporation 15. Loyalty Management 61. Macquarie Group Limited 16. Dundee Realty Management Corp 62. Agence Metropolitaine de Transport 17. SNC-Lavalin Inc. 63. Raymond James Ltd. 18. Miller Thomson 64. Mark Anthony Group 19. Cenovus Energy 65. Maple Leaf Foods 20. Winners Merchants International 66. Government of New Brunswick 21. Government of NW Territories 67. CGI Group 22. Cassels Brock Blackwell 68. Delcan Corporation 23. ATCO Group 69. Cardinia Real Estate Canada Inc 24. TD Canada Trust 70. Reg. Municipality of Waterloo 25. Daimler Chrysler Canada Inc. 71. Visa Canadaartnership 26. The City of Edmonton 72. AMEC Americas Ltd Energyrganization 27. IBM Canada Ltd. 73. Canadian Western Bank 28. AON Canada Inc. 74. Edward D. Jones & Co. 29. Penn West Energy Trust 75. Ensign Resource Service Group 30. International Financial Data Services 76. International Civil Aviation Organization 31. Hatch Optima Ltd 77. Conexus Credit Union 32. U.S. Bank National Association 78. Gardiner Roberts 33. Intact Financial Corporation 79. Precision Drilling Corp 34. Discovery Parks Holdings Ltd. 80. Air Canada 35. Stantec Consulting Ltd. 81. Toronto Central Community Care 36. Nautilus Fitness & Raquet Centre 82. Johnson Inc. 37. Nissan North America Inc. 83. Care Factor Computer Services 38. Medcan Health Management Inc. 84. Yellow Pages 39. Royal Bank of Canada 85. Worley Parsons Canada Ltd. 40. Co-operators Life Insurance 86. Standard Lands Co Inc. 41. The Art Institute Of Vancouver 87. CAE Professional Services Inc. 42. CIBC 88. Wells Fargo Foothill Canada 43. Sage Software Canada Ltd. 89. Sobeys Capital Incorporated 44. Carswell 90. B.F. Lorenzetti & Associates 45. Bank of Montreal 91. Dutton Brock 46. Transglobe Investment 92. Saskatchewan Telecommunication 93. Exchange Solutions Inc. 94. GCAN Insurance Company 95. Stewart Weir and Co. 96. Bantrel 97. HSBC Bank Canada 98. MKRT Management Corporation 99. Jardine Lloyd Thompson Canada 100. BHP Billiton Diamonds 101. Jacobs Canada Inc. 102. IMV Projects Inc. 103. Wardrop Engineering Inc. 104. MLT Management Inc. 105. Nordia Inc. 106. Sun Life Assurance Company 107. Ontario Bar Association 108. Family Guidance Group Inc. 109. Lafarge Canada Inc. 110. Lindt & Sprungli (Canada), Inc 111. The Insurance Institute of Canada 112. Trader Corporation 113. City of Windsor 114. Smart & Biggar Management 115. Technicolor Creatives Services 116. Connor, Clark & Lunn Financial 117. Cambridge Mercantile Corp. 118. The Record All tenants with annualized owned rent in excess of $2,500,000: Total annualized owned net rental income $213,516,485 Total annualized owned gross rental income $396,144,313 in square feet (owned share) 11,572,547 Average base rent (PSF) $18.45 Average recoveries (PSF) $15.78 Entire owned portfolio: Total annualized owned net rental income $415,526,632 Total annualized owned gross rental income $781,999,201 Total occupied and committed GLA in square feet 23,127,091 Average base rent (PSF) $17.97 Average recoveries (PSF) $15.85

Portfolio Tenant Base (by NAICS codes) March 31, 2014 Sector By GLA By Contract Rent Finance and Insurance 19.5% 21.5% Public Administration 17.8% 17.5% Professional, Scientific and Technical Services 17.0% 17.0% Mining and Oil and Gas Extraction 6.6% 8.2% Information and Cultural Industries 6.0% 5.7% Manufacturing 5.5% 2.8% Administrative & Support,Waste Management & Remediation Services 5.2% 5.1% Real Estate and Rental and Leasing 3.3% 3.7% Retail Trade 3.1% 3.5% Other 15.9% 15.1% Total 100.0% 100.0% Real Estate and Rental and Leasing 3.7% Retail Trade 3.5% Other 15.1% Finance and Insurance 21.5% Administrative & Support,Waste Management & Remediation Services 5.1% Manufacturing 2.8% Public Administration 17.5% Information and Cultural Industries 5.7% Mining and Oil and Gas Extraction 8.2% Professional, Scientific and Technical Services 17.0%